BRIDGEWATER, Nova Scotia (July 5) — Michelin North America (Canada) Inc. is committing $41.5 million over two years to increase capacity at its Bridgewater car and light truck tire plant.
The project will increase capacity by an undisclosed amount and create about 48 new jobs, Michelin said. The province of Nova Scotia will contribute up to $5.6 million toward the expansion as well, Michelin said.
The investment will cover modern, more efficient equipment designed to address the need for greater flexibility and will enable the plant to produce complex tire designs and larger dimension tires, Michelin said. The new jobs will be phased in as the project progresses toward a 2009 completion.
Plant Manager Geoff Aucoin said the project will "help us improve our productivity, reduce costs, and remain competitive in the global market."
The province´s investment is being provided by the Industrial Expansion Fund, a mechanism that has helped create or maintain more than 3,000 jobs in the province and has a return on investment of $3 for every $1 spent, according to Michelin.
The non-union Bridgewater plant produces steel cord in addition to tires. Steel cord production started in 1971 with tire production following two years later. Production-related employment is 1,100.